Thread regarding Sears layoffs

Unsecured creditors want Chapter 7

What's going on here is that the unsecured creditors want Chapter 7, because the cash to be gotten from a total liquidation will be more than what Eddie will have to pay for the stores. They will be more whole from an immediate liquidation.

Eddie wants to buy the stores so that he can sell the properties and cash out for more than he paid for the stores.

The end game is liquidation one way or the other. It's just a matter of how soon, and who gets to pocket the premium over what Eddie wants to pay.

Taken from another thread ( @WnlnmWS-uph )

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Post ID: @OP+WnPYZfy

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I don't think he's come out ahead overall, but I don't know every piece of his convoluted financial situation. Even ending up less rich than he started, he's still set for life.

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Post ID: @4wsy+WnPYZfy

The government fake bankruptcy of General Motors changed all the rules. There are no rules and anything can happen now.

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